A reader asked me to chart the PowerShares QQQ Trust (QQQQ) this week instead of the Dow like I usually do. I haven’t charted it in a while, even just to glance at and since I’ve been reading so much recently about the tech stocks being a safer haven I figured it was a good idea. Mixing up the…
Author: Alex Fotopoulos
Month End Summary – August 2007
In a strange way I liked August’s price action. We got the correction we’ve been overdue for and got a good bit of panic to enter the market. I took the opportunity to reload on some positions and plan to make another strong run for a couple of months. There’s enough fear in the market…
Sold PCU Naked Put
I’ve traded options on Southern Copper Corp (PCU) a couple of other times this year and even owned it for a little while before it was assigned from my covered calls. I got out when it was in the 80s and I was nervous the run had slowed too much and would come back down…
Sold 2 JOYG Naked Puts
Investors didn’t seem too happy with Joy Global (JOYG) after earnings, but that was short lived as JOYG started its comeback the next day and continued it today. I took the opportunity to sell a couple of October 40 naked puts (JQUVH) while JOYG was trading at 43.49. I received $268.50 after commissions. I see…
Lottery Winner – Paying for Comments
The Mega Millions lottery is up to an estimated $325 million dollars for Friday night’s drawing. I’ve bought my tickets and if I win, I’ll pay $1,000 for each person who leaves a comment to this post or another of my stock picking posts today or tomorrow. You’ll know if I win because I’ll change…
A Risky Ride
I’m working from home today and was watching Power Lunch on CNBC while I ran on the treadmill. They mentioned how the bond yield has come down recently. It made me think about the post I wrote two and a half months ago, What is Risk Worth. My theory then and now is that it’s better to stay invested than worry about…
Greek Fires – Update
I heard good news this afternoon about my family in Greece. The village where my grandfather was born and where I still have second cousins living, Vounargo (Βούναργο), is not burned. The area all around it appears to be destroyed and the fires are still burning, but for now it’s OK. My family from my…
Chattem (CHTT) Could Heal the Ache
Barron’s August 27, 2007 issue had a bullish write up on Chattem (CHTT). It got the typical Monday bounce from the article, but is down today back to where it closed on Friday. Michael Santoli makes a good case for CHTT long term. Chattem makes some of the household products we’re all familiar with, even…
Fires in Greece Destroy My Cousins’ House
This has nothing to do with my normal blog topic, but thought it was worth sharing. I found this picture in Yahoo! News. It is a satelite view of the fires in the Peloponnese and was taken on August 26th, yesterday. The area I circled in red is where I have family. One of my grandmother’s…